MUNICH: BMW, the world’s largest premium carmaker, did not exclude the possibility that headline pre-tax profit would decline this year amid ongoing high raw material costs and foreign exchange headwinds.
The company said yesterday earnings before tax should rise above last year’s adjusted 3.78 billion euros (US$5.96bil), which excluded a one-off 97 million euros gain on the settlement of an Rolls-Royce plc convertible bond.
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